3Wall Street Journal Rpt.
extremism in politics today? there is sort of an us versus them type attitude when you have the promotion, the book promotion in ireland. you had some disruption of your time there. you canceled a similar event in london. were you surprised by that? what does this tell us about politics today? >> the people that mount these protests, that throw things and shout things and everything, in my experience, they're not representative of the broad majority, who even if they disagree with express that disagreement reasonably. the second thing, though, is something i call the tyranny of the protest. which means today in the world in which we live in politics, if you particularly with 24-hour a day, seven-day a week media, if you come out and do something extreme. suppose even a public meeting that a politician is holding, they've got a thousand people in the audience and five of them stand up and shout and throw things, i can guarantee the five will take the publicity. >> wars create upset, uncertainty and are very tough. >> that is absolutely natural that people feel very strongly. but
to talk more. bill so, good to have you on the program. thanks for joining us. >> thank you, maria. >> so it's been two years since the collapse of lehman brothers. you and your pimco team say we've entered a new normal. diminished expectations and growth. tell us what that new normal may look like. >> well, it looks like a slow growth environment with high unemployment in the united states. and it looks like a global economy in which developing economies such as china and brazil do much better than developed countries such as the united states and england and those countries in euroland. so there is a distinction to be drawn going forward not only in terms of the slower growth for developed countries, but for the orientation towards higher growth in developing markets. >> so how do you invest based on that? >> well, i think you invest for growth. that's always been the key to investing, not only from the equity standpoint, but from the long standpoint. so you look towards those countries with relatively high real interest rates on the bond side that would be countries like brazil
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